GIB Profile

GIB Profile

GIB has gained an international reputation for project and trade finance and is a leading player in the regional syndicated loan market. The Bank's financial strength is based on conservative asset and liability management policies, its high-quality asset profile and strong capital base. More recently, the Bank has increased its focus on merchant banking services, including corporate finance and asset management.

read more

GIB Milestones

2010:

• GIB successfully raised SAR 3.5 billion through a private placement offered to investors in the Kingdom of Saudi Arabia. The 5-year bond issue was priced at 110 basis points over SIBOR (Saudi Interbanks Offer Rate). The issue was originally targeted for SAR 3 billion but raised to SAR 3.5 billion to satisfy the overwhelming demand from investors.

2009:

• GIB issued a ground breaking transaction and its first Saudi Riyal bond issue of SAR 1.5 billion. The bond issue was over subscribed by more than 3 times (increased to SAR 2 billion). GIB’s Saudi Riyal bond issue was the first bond issue by a financial institution in the Kingdom of Saudi Arabia in 2009. It also represents the largest ever book for a fixed income SAR private placement in the Kingdom, or indeed by any financial institution issuance in the Kingdom of Saudi Arabia.

2008:

• GIB announces increasing its share capital by US$1.0 billion to US$2.5 billion.
• All three international credit rating agencies have reaffirmed GIB’s long-term ratings: Standard & Poor’s A-, Moody’s A2 and Fitch A.

2007:

• International credit rating agency Capital Intelligence upgrades GIB’s long- and short-term foreign currency ratings to “A+” and “A1,” from “A” and “A2” respectively. The Bank’s financial strength rating is also upgraded to “A” from “A-.” The short-term rating of “A1” is the highest rating granted by Capital Intelligence.
• GIB signs a US$ 1.2 billion syndicated term loan. This is one of the largest loans arranged for a Middle Eastern bank and reflects the confidence in GIB’s strength and sound business strategy.
• GIB increases its paid up capital by US$ 500 million to US$ 1.5 billion, representing 50 per cent of the Bank’s authorised capital of US$ 3.0 billion. Following the increase in capital and the payment of a 50 per cent dividend in respect of 2006 profits, GIB’s total equity increases to in excess of US$ 2.2 billion
• International credit rating agency Moody’s upgrades GIB’s long- and short-term deposit ratings to “A2” and “P1,” from “A3” and “P2” respectively.
• GIB wins the title “Best Equity Bank in the Middle East/Africa” from Global Finance magazine.

2006:

• Fitch upgrades GIB's long term foreign currency rating to "A."
• Banker Middle East magazine names GIB "Best Project Finance House in the Middle East."
• GIB wins the title “Best Project Finance Bank in the Middle East and Africa for 2006” from new York-based Global Finance magazine.

2005:

• GIB receives US$ 800 million syndicated term loan facility and issues US$ 400 million subordinated floating rate note, the first lower tier-2 transaction in the Middle East.

read more